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DTN's Joel Karlin reports that corn and soybean futures dropped 30-35 cents over two weeks on trade war fears and fund liquidation. Soybeans and corn have strong initial crop ratings, the best and second-best since 1986.
Forecast models point to heavier rain over the next two weeks in drier areas.
Strong crop ratings and rain forecasts support bearish yield expectations, while trade-war-driven export worries add downside pressure on corn and soybeans.
dtnpf.comJoel KarlinJun 8, 2018After 357 past bearish weather events, Corn moved a median -0.3% over 5 sessions (44% higher; middle half -2.2% to +1.3%), and -0.5% over 20.
After 363 past bearish weather events, Soybeans moved a median -0.6% over 5 sessions (42% higher; middle half -2.5% to +1.1%), and -0.2% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
DTN reports soybean and corn futures dropped on trade war fears and fund liquidation, with record-strong initial crop ratings adding supply pressure.
